JWagnerFXTrader

JWagnerFXTrader

Executive Summary: GBPJPY shaping a diagonal pattern. Large bearish reversal could push down to 184. Above 202.40 voids the pattern as labeled. I typically don't conduct Elliott wave analysis on cross pairs simply because they are the children of the two main currencies involved. GBPJPY is the child of GBPUSD and USDJPY. With that said, I still scroll...

JWagnerFXTrader

Executive Summary Wave 1 rally from January 2025 to July 2025 appears complete Decline to 1.1170 and possibly 1.08 in wave 2. The support shelf near 1.1170 may contain the decline. We now have enough evidence in place to consider a medium-term (or longer) top in place for EURUSD. The weekly chart above shows a rally from the January 2025 low that...

JWagnerFXTrader

#Gold is in a declining pattern that appears incomplete. Here are 2 models we are following closely. 1. A decline in wave (iii) of ((c)) - targeting $3,120 2. A decline in wave iii of (ii) - targeting $3,220-3,240 Both models imply the current decline is not over. FLAT PATTERN The flat pattern subdivides as a 3-3-5 ((a))-((b))-((c)) pattern. The...

JWagnerFXTrader

USDJPY bounced higher from a horizontal support shelf created from August - September 2024. The bounce is a second wave. The bearish shooting star candle on the daily chart spells reversal for USDJPY. The bearish wave count using Elliott Wave Theory as our guide as suggests deep cuts may be on the horizon for USDJPY. We are considering the next decline to be a...

JWagnerFXTrader

Gold's decline to today's low has satisfied the minimum requirements to consider the correction over. The April to May decline corrected in a double zigzag labeled ((w))-((x))-((y)). There are 3 geometric relationships pointing to today's low as an important bottom. 1. Wave ((y)) was equal to wave ((w)) at today's low, a common wave relationship. 2....

JWagnerFXTrader

Executive Summary Bitcoin rallied 40% over the past month. The rally appears to be a completed impulse pattern. A decline to $93,450 would be considered normal over the next few weeks. Completed Elliott Wave Impulse Pattern On Sunday, May 11, Bitcoin’s price appears to have completed a bullish Elliott Wave impulse pattern . There are a few...

JWagnerFXTrader

The rally for EURUSD has been spectacular. The uptrend is nearing its point of exhaustion, if it already hasn't seen the top. We've anticipated a large uptrend since the trend change in January. There are 2 colored labels on the chart, red and black labels. RED AND BLACK WAVE COUNTS The RED labels imply a high in wave 1 and EURUSD is declining in wave 2....

JWagnerFXTrader

USDJPY bounced higher from a horizontal support shelf created from August - September 2024. Using Elliott Wave Theory as our guide, the model suggests a breakdown below the support shelf is looming nearby. I'm keeping an eye on 144.55. Below this mark, the risk remains high of a breakdown in a wave (iii). Even if 144.55 is hit to the upside, wave (iii) is the...

JWagnerFXTrader

Executive Summary The S&P 500’s Elliott Wave structure suggests the current downtrend is incomplete, with a high-probability target near the 4,300 level based on Fibonacci retracement levels. Global stock markets remain under pressure amid ongoing tariff uncertainty, and Elliott Wave patterns across various indices continue to point to more downside. Current...

JWagnerFXTrader

Copper’s Elliott wave price structure suggests a completed contracting symmetrical triangle (ABCDE) correction, followed by the start of a five-wave impulse. The chart shows: Primary Degree Count: The rally from the $4.00 low (Wave E) marks the start of a five-wave impulse pattern. Intermediate Degree Count: Wave (i) of ((iii)) topped at $4.8346. Wave...

JWagnerFXTrader

Executive Summary Gold’s Elliott wave pattern appears incomplete to the upside. A decline to $2760-$2830 is considered ‘normal’ correction within an uptrend. Lack of Daily RSI divergence suggests new additional highs eventually. CURRENT ELLIOTT WAVE ANALYSIS Gold continues to punch new all time highs this new year. The current Elliott wave count...

JWagnerFXTrader

Executive Summary: EUR/USD weekend gap down has been fully retraced The Elliott wave trend has shifted from down to up Initial upside targets include 1.08 & 1.12 EUR/USD Gaps Down on Trump Tariff Announcement Over the weekend, announcements of tariffs in place by President Trump caused EUR/USD to gap lower on broad based USD strength. It was...

JWagnerFXTrader

EURUSD has moved high enough to consider a major low in place. Wave C of (2) is an ending diagonal which means a swift rally may be looming nearby. Consider the Jan 13 low of 1.0177 as the end of wave (2)/(B) and a wave (3)/(C) rally has begun. This rally has upside targets at: 1.11-1.12 1.18 1.29 A print below 1.0258 is unexpected. Therefore, if EURUSD...

JWagnerFXTrader

Russell 2000 (RUT) is an index of 2000 stocks. It can be seen as a barometer on the health of the US economy as mid-size and smaller companies are included in the index. RUT has been declining in an impulse wave. The decline was not deep enough to count a completed wave from the all-time high. Today, the price is rejecting the underside of the trend line that...

JWagnerFXTrader

SP:SPX has aggressively sold off lately but appears only to be in wave iii of (iii). This implies more downside to come and rallies would be temporary. SPX likely finds some relief after reaching $3500. The trend appears firmly planted to the downside.

JWagnerFXTrader

TSLA has a really nice downtrend developing that is adhering to the Elliott Wave patterns. This week's low reached the 1.618 extension of the previous down move. This week's low might be the end of a 3rd wave (or the end of a C wave as an alternate). I'm leaning towards the 3rd wave ending, followed but a sideways triangle as a 4th wave. Then, the 5th wave lower...

JWagnerFXTrader

The rally from $1824 appears to be an Elliott Wave impulse pattern. As a result, a decline back to $1936 or even $1892 would be considered 'normal' under Elliott Wave Theory. The decline likely hold below the recent high of $2009, but it doesn't have to. If Gold does rally above $2009, then we'll review the wave pattern to discern what adjustments are...

JWagnerFXTrader

I see a lot of people getting excited about bullish trends emerging within crypto. Yes, I would love to see crypto move higher...but hope and reality are often separate. When I analyzed the price trends for ETH, a significant development occurred this week. Price broke below the blue trend line that has been in force since June 2022. The break suggests the...